Trian boosts stakes in Ferguson, Wendy’s

Nelson Peltz’s Trian Fund Management disclosed in an SEC filing its holdings as of June 30, 2025. Trian increased its stake in two holdings during the second quarter, including by size of previous position, Ferguson (FERG) and Wendy’s (WEN). Trian reduced its stake in four holdings, including by size of previous position, Invesco (IVZ), Allstate (ALL), and U-Haul (UHAL). Trian’s top holdings as of June 30, in order of size, were Janus Henderson (JHG), GE Aerospace (GE), Solventum (SOLV), Wendy’s and Ferguson.